New centralized and integrated solution saves time and money while strengthening audit trails and defensibility
NAVEX Global, the leader in integrated risk and compliance management solutions, announced the availability of Disclosures, a software tool that delivers a streamlined solution for organizations to gather, track and analyze employee-based conflict of interest risk.
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“An automated and centralized approach to collect and manage conflicts of interest will be invaluable to customers, especially in light of the evolving regulatory enforcement strategies and an increasingly connected complex global supply chain”
“An automated and centralized approach to collect and manage conflicts of interest will be invaluable to customers, especially in light of the evolving regulatory enforcement strategies and an increasingly connected complex global supply chain,” said Carrie Penman, NAVEX Global’s Chief Risk and Compliance Officer.
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Disclosures automate and streamline the processes required to identify and record potential conflicts of interest, including board participation, gifts and entertainment, investments and outside employment. The tool provides a best practice questionnaire and automates what, for many organizations, is a manual, email- or spreadsheet-based process.
“Manual processes take significant time, unnecessary manpower and are highly susceptible to error. In fact, some organizations aren’t gathering this information at all, leaving them vulnerable to a host of risks,” Penman said. “Disclosures simplifies and automates the processes required to manage potential conflicts end-to-end.”
NAVEX Global Disclosures also provides the necessary reporting and analytics to help communicate and mitigate the potential risk associated with these disclosures.
Additional features include:
- Amendment workflows that empower employees to easily and quickly make updates to filed disclosure questionnaires as situations change
- Clear records of full campaigns, ensuring the data collected is available and audit-ready, which is especially important in highly regulated industries
- Integration with NAVEX Global’s platform, allowing Disclosure questionnaire data to be included in the analytics of broader risk and compliance programs or campaigns
